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Claudio Ranieri, 71, will have to keep Cagliari in Serie A this season after guiding them to promotion last summer.
This might be the last gig for the Premier League-winning head coach with Leicester City.
Ranieri said: "I would like to finish my career at Cagliari, but I could accept another challenge if a national team is interested in me.
When asked if he would've considered Saudi Arabia, he added: "No, to be honest, I wouldn't have accepted that. My motives aren't related to money".
Last week, Ranieri's fellow Italian Roberto Mancini took over the Saudi national team after leaving Italy early.
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